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Tuesday, November 24, 2020

The Unprecedented Rise of Biocept Inc. (NASDAQ:BIOC)

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Biocept Inc. (BIOC) shares are trading at lower $0.77 and the avg recommendation for the stock is Moderate Buy.

To add more color to this target, the company’s high over the last year is $1.30 and the low is $0.21. Over the last 52 weeks, BIOC is down -41.08% while the S&P 500 is up 0.31%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BIOC reported a profit of $-1.6 million. Biocept Inc. also saw revenues decrease to $0.92 million. In addition, BIOC has free cash flow of -$12.01 million as of 06-2020. The company’s EBITDA came in at -$6.25 million which compares well with its peers.

BIOC Return on Equity (ROE) is -184.60%, and its Return on Assets is -123.30%. All told, it is clear that, BIOC needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BIOC has a short ratio of 0.17 and outstanding shares of 131.10M.

Company Outlook

BIOC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 18.71 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.93. Biocept Inc. BIOC also noted assets of $33.02 million at the end of the last quarter. Investors should also keep an eye on sector updates as BIOC has historically followed its peers on positive news.

All told, Biocept Inc. BIOC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BIOC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Biocept Inc. BIOC is now commanding a market cap of 112.19M and a float of 118.42M. BIOC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BIOC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BIOC, either long or short, and we have not been compensated for this article.

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